MNL Guarantee Pro
If you're nearing retirement, the MNL Guarantee Pro is a fantastic financial product to consider. It helps protect your retirement savings and offers the potential for higher interest rates. Moreover, one of its key benefits is the flexibility it provides. After the initial three, five, or seven-year guarantee period, you can renew it or start drawing income from it. It's like having a safety net for your finances, easily adjustable according to your needs.
Moreover, the MNL Guarantee Pro comes with tax-deferred growth potential, meaning more of your money works for you till you choose to access your funds. Not to mention, it's backed by Midland National, one of the highest-rated insurance companies in the U.S. For over a century, they've been serving customers through excellent, high-quality financial solutions. Choosing the MNL Guarantee Pro means choosing a stable, reliable, and flexible path to your retirement.
MNL Guarantee Pro
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 4.4% |
| 5 years | 4.8% |
| 7 years | 4.75% |
A premium of $20,000 or more is required for this single premium product, whether qualified or non-qualified.
Issue ages
Available to issue ages 0-90 (qualified and non-qualified)
For issue ages 0-17, a Uniform Gift to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) custodial account must be established.
Penalty-free withdrawals
After the first contract anniversary, you may choose to take a penalty-free withdrawal (also known as a penaltyfree partial surrender) equal to the interest earned in the prior contract year. If you withdraw more than interest earned in a year, a surrender charge and market value adjustment may apply. By current company practice*, you may take a penalty-free withdrawal in the first contract year equal to interest earned in the first year. You may elect to receive interest withdrawal payments on a monthly, quarterly, semi-annual or annual basis, called a systematic withdrawal, these scheduled payments are penalty-free but must be at least $50 each.
*Any features offered by current company practice are not contractual guarantees of your annuity Contract and can be removed or changed at any time.
Market value adjustment
Your contract also includes an MVA feature, which may decrease or increase your surrender value depending on the change in the market value adjustment external index rate since the start of the term. Due to the mechanics of an MVA, surrender values decrease as the MVA external index rate rises. When the MVA external index rate decreases, the surrender value increases. However, the MVA is limited to the surrender charge or the interest credited to the accumulation value.
Riders
No Riders for MNL Guarantee Pro annuity.
Waivers
Nursing Home
Unavailable in states: CA, and SD
After your first contract year, if you become confined to a qualified nursing care facility for 90 consecutive days, you can withdraw 100% of your accumulation value without a surrender charge and without application of a market value adjustment (MVA). You cannot be confined at the time your contract is issued. This rider is automatically included with your annuity at no additional charge. If joint annuitants are named on the annuity, the waiver will apply to the first annuitant who qualifies for the benefit, but not both. The nursing home waiver does not include home health care.
Surrender Window
Within this 30-day window, no surrender charges or market value adjustment will apply. After the 30-day window, a new guarantee period, guarantee period interest rate, surrender charge schedule and market value adjustment will apply.
- A.M. Best A+
- Fitch A+
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